Germany's manufacturing sector orders decreased in double-digits on a monthly basis in July, which was much more than forecast, largely due to a big order for air and spacecraft in the previous month, and added fuel to worries that the biggest euro area economy may be headed for a recession.
Factory orders fell a calendar-and-seasonally adjusted 11.7 percent in July, preliminary data from Destatis showed Wednesday. This was much worse than the 4 percent slump economists had forecast.
The decline for June was revised to 7.0 percent from 7.6 percent.
Excluding big orders, factory orders grew 0.3 percent from the previous month.
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by Jyotsna V
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